Australian data – Q2 net export contribution to GDP +0.2% (expected 0.6%)

Current Account data from Australia for the April to June quarter of 2024

Australia Current Account AUD
-10.7bn, a huge miss

• expected -5.0bn, prior -4.9bn

Australia Net Exports Contribution 0.2% … a big miss and a big hit to Q2 GDP

• expected 0.6%
  prior -0.9%

Public sector demand will add approximately 0.4% to Q2 GDP.

The GDP data for Q2 is due tomorrow, Wednesday, September 4, 2024 at 11.30 am Sydney time (0130 GMT, 2130 US Eastern time). Its going to be teetering on the edge of negative growth.